Is there ELI5 explanation of how such insurance will work in practice?
If I had my funds insured and the exchange was hacked - how do I make a claim? Who and how decide on whether I get paid and when?
Hi
Our oracles will be monitoring the exchanges, so in essence you won't need to make a claim. If the exchange confirms that it's been hacked and the losses are calculated and confirmed, you will be covered automatically. Please note, we are not going to insure your particular account but the entire platform (including your acc of course); meaning that if only your acc is hacked but the exchange itself is not affected, we won't cover your losses.